UPDATE: Gazprom, Uzbekneftegaz ink geological exploration agreement

(Adds paragraphs 5-7, details in paragraph 4)

MOSCOW, Apr 5 (PRIME) -- Russian gas giant Gazprom and Uzbekistan’s national holding company Uzbekneftegaz have signed a cooperation agreement on geological exploration and innovative engineering operations during a visit of Uzbek President Shavkat Mirziyoyev to Moscow on Wednesday.

The two companies also signed a memorandum on cooperation in staff training. Gazprom Export and Uztransgaz companies signed a natural gas sales contract.

The Russian Energy Ministry and Uzbekneftegaz signed a memorandum on export of 500,000 tonnes of Russia-produced gas.

Uzbekistan, Gazprombank and the Russian Export Center (REC) inked a three-year framework agreement on cooperation in investment projects in petrochemical, mining and metallurgic industries, Gazprombank said.

The document envisages a number of cooperation projects in Uzbekistan, including Gazprombank’s investment in a facility to produce liquid synthetic fuel from processed methane made by the Shurtansky gas chemical complex or shipments of Russia-produced air diffusor systems of Cryogenmash, a unit of Gazprombank Group.

The document also mentions Gazprombank’s investment in construction of a flat rolled stock facility with a capacity of 500,000 tonnes annually and delivery of excavating machinery for Uzbekistan’s mining industry in 2017-2021 for at least U.S. $155 million.

The Russian Export Center (REC) is to organize insurance of the projects’ financing.

End